Executive Summary
FIT EASY Inc reported a solid Q4 2024 with revenue of JPY 1,939,506,000 and a gross margin of 33.19%, culminating in an operating income of JPY 439,703,000 and net income of JPY 313,217,000 (EPS: JPY 19.77). The quarter shows meaningful sequential momentum, with QoQ revenue growth of approximately 19.5% versus Q3 2024, while margins remained resilient (gross margin ~33.2%, operating margin ~22.7%, net margin ~16.1%). EBITDA stood at JPY 492,421,000, translating to an EBITDA margin of about 25.4%. The balance sheet is notably cash-rich, with cash and cash equivalents of JPY 2,500,684,000 and total cash and short-term investments of JPY 2,669,995,000, yielding a net cash position of roughly JPY 1.73 billion after considering total debt of JPY 769,111,000. These liquidity levels provide optionality for store/network expansion and potential franchising initiatives, subject to management’s future guidance. While the data indicate healthy profitability and balance sheet strength, there is no explicit forward guidance disclosed in the provided dataset, and no earnings-call transcript was supplied for extraction of management sentiment or quotes. Investors should monitor same-store sales, capex plans related to expansion, and working capital dynamics as drivers of mid-term performance.
Key Performance Indicators
Key Insights
Revenue and profitability: Q4 2024 revenue of JPY 1,939,506,000, up from Q3 2024 (JPLY not provided for YoY). Gross profit: JPY 643,630,000; gross margin: 0.3319. EBITDA: JPY 492,421,000; EBITDA margin: 0.2539. Operating income: JPY 439,703,000; operating margin: 0.2267. Net income: JPY 313,217,000; net margin: 0.1615; EPS: JPY 19.77 (diluted: JPY 19.77); weighted average shares: 15,840,000. YoY data not provided in the dataset. Liquidity and solvency: current ratio 2.14; quick ratio 2.08; cash ...
Financial Highlights
Revenue and profitability: Q4 2024 revenue of JPY 1,939,506,000, up from Q3 2024 (JPLY not provided for YoY). Gross profit: JPY 643,630,000; gross margin: 0.3319. EBITDA: JPY 492,421,000; EBITDA margin: 0.2539. Operating income: JPY 439,703,000; operating margin: 0.2267. Net income: JPY 313,217,000; net margin: 0.1615; EPS: JPY 19.77 (diluted: JPY 19.77); weighted average shares: 15,840,000. YoY data not provided in the dataset. Liquidity and solvency: current ratio 2.14; quick ratio 2.08; cash ratio 1.417. Cash and equivalents: JPY 2,500,684,000; cash and short-term investments: JPY 2,669,995,000; total debt: JPY 769,111,000; net debt (cash netting): -JPY 1,731,573,000. Profitability ratios: return on assets 5.34%; return on equity 10.5%; debt-to-assets 0.131; debt-to-equity 0.258. Efficiency: inventory turnover 13.35x; receivables turnover 2.75x; days sales outstanding 32.71 days; days of inventory outstanding 6.74 days; payables turnover 2.95x; cash conversion cycle ~8.93 days. valuation (as disclosed): price-to-book 8.14x; price-to-sales 12.50x; price-earnings 19.34x; dividend yield 0.392%.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
Key Financial Ratios
operatingProfitMargin
22.7%
dividendPayoutRatio
30.3%
Management Commentary
Note: The dataset provided does not include an earnings call transcript for QQ4 2024. Management quotes, thematic highlights, or call-based guidance are not extractable from the provided information. If a transcript becomes available, a thematically grouped synthesis (strategy, operations, market conditions) with direct quotes should be added here.
Forward Guidance
No explicit forward-looking targets or guidance were included in the supplied dataset for FIT EASY’s QQ4 2024 results. Given the solid EBITDA, net income, and a robust net cash position, the company appears well-positioned to fund selective expansion and potential franchising while maintaining current margins. Investors should look for future disclosures on: (1) capex plans and store/franchise expansion pipeline, (2) same-store sales trends and revenue mix (retail vs. services), (3) any changes in working capital needs, and (4) capital allocation strategy (buybacks, dividends, or acquisitions). Key factors to monitor: store productivity, cost structure discipline, currency considerations if expanding internationally, and competitive dynamics within the Personal Products/Amusement Fitness ecosystem.